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CORAL GABLES, FL / ACCESSWIRE / November 8, 2018 / Healthcare stocks continued to gain momentum on Thursday morning following the build-up to US midterm elections held earlier this week. Sector trends in healthcare technology and new treatments for rare diseases have sparked more interest in the sector. Market participants see implementing self-service technology and giving accurate price estimates is key to improving the patient experience while ensuring a smooth revenue cycle.
With elections in mind, PwC surveyed 1,500 people, for instance, and found that 59% cited health care as a very important issue. "Healthcare providers stand to benefit from successful efforts to bolster individual and group markets, even as device and pharmaceutical manufacturers could find themselves more at risk for scrutiny as attempts to control rising healthcare costs focus increasingly on drug prices," analysts wrote in a post-election wrap-up.
In October, Premier Health Group, Inc. (PHGRF) (PHGI) announced that it has selected Reliq Health Technologies Inc. as its exclusive technology partner. Reliq will be providing Premier's subsidiary, HealthVue, primary care clinics with a HealthVue-branded telemedicine, remote monitoring & AI solution for its clinical staff and more than 100,000 active patients.
Premier Health Group, Inc. (PHGRF) (PHGI) is focused on developing innovative approaches that combine human skill-based expertise with emerging technologies for the healthcare industry. The company has recently seen market activity that is higher than average and could be attributed to the company's most recent announcements.
Premier Health Group, Inc. (PHGRF) (PHGI) announced this week that as a part of its expansion plans it will enter the Pharmacy market via acquisition and/or launching a new Canada based pharmacy in H1-2019. With Premier's acquisition of HealthVue Medical Clinics in August, this could be the next phase of growth for the company.
Premier Health Group, Inc. (PHGRF) (PHGI) has already seen strong movement during the early morning session on Thursday and shares managed to briefly hit highs of $0.81 this week.
Sesen Bio, Inc. (SESN) saw a stronger premarket session on Thursday morning. Shares managed to hit highs of $1.90 before the opening bell. The company reported operating results for the third quarter ended September 30, 2018 and recent highlights from its development program for Vicinium® for patients with high-grade non-muscle invasive bladder cancer (NMIBC).
"2018 has been a year of focused execution for Sesen Bio, led by the advancement of the Phase 3 program for Vicinium for patients with NMIBC," said Dr. Thomas Cannell, president and chief executive officer of Sesen Bio. "NMIBC is a devastating disease and there remains just one recommendation for patients who do not respond or become refractory to today's standard-of-care treatment: complete bladder removal. Our goal is to help save this essential organ and provide a meaningful treatment option for patients with BCG-unresponsive NMIBC. Our Phase 3 registration clinical trial is well-designed and preliminary data reported earlier this year suggest that Vicinium is active and has a favorable safety profile, consistent with our Phase 2 experience. We look forward to assessing six-month data from the trial next month and twelve-month data in mid-2019. If the VISTA Trial is successful, we believe Vicinium could change the treatment outlook for patients with NMIBC, bringing us closer to achieving our mission of saving and renewing the lives of patients with cancer.
By the opening bell, shares of Sesen were trading over $1.80 per share.
ReShape Lifesciences Inc. (RSLS) announced a 1-40 reverse stock split on Wednesday that was approved by ReShape Lifesciences' stockholders at the company's special meeting of stockholders held on October 30, 2018. Following this news, the company announced Thursday morning that the ReShape Balloon ™ System is now available at U.S. Department of Veterans Affairs medical facilities through the previously-announced ReShape Lifesciences ™ partnership with Academy Medical, LLC.
Academy Medical is a certified Service-Disabled Veteran-Owned Small Business specializing in the distribution of medical products to VA and Department of Defense facilities. As of October 9, 2018, the ReShape Balloon has been added to Academy Medical's five-year sole source agreement with the U.S. Department of Veterans Affairs, which allows any VA surgeon in the U.S. to purchase the ReShape Balloon System from Academy Medical under a national contract.
"We are very pleased that surgeons at VA medical facilities now have the ability to treat veterans fighting obesity with the ReShape Balloon," said Dan Gladney, ReShape Lifesciences President and Chief Executive Officer.
Shares of ReShape traded widely during the first 15 minutes of the market being open between a low of $2.85 and a high of $3.55.
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